Identify this part

At first I thought that maybe it was a sway bar link to the lower control arm? But then I saw the third pic showing the slotted adjuster inside of the nut and something occurred to me ...

Are we sure that thing is original to the Scamp? Cause to me it looks a lot like a motorcycle front fork tube spring preload adjuster as shown in the pic below. Maybe it was road debris and lodge itself somewhere under the Scamp for a while before it fell out?



but then again maybe not as that thing is corroded steel and most motorcyle preload adjusters are made of aluminum.